Letter to the Editor

Balancing the budget

Tue, 05/05/2015 - 2:00pm

    Dear Editor:

    We've been hearing a lot lately about balancing the budget and even passing a Constitutional amendment to do so. The cure could be worse than the disease, imposing austerity on a recovering economy could well force us back in recession. Slashing of programs beneficial to common people is short-sighted and counterproductive. Concern about imposing debt on our children and grandchildren could well result in these very children dying from malnutrition and disease, or without education to become productive, prosperous adults.

    Rather than looking back to former President Ronald Reagan's administration (when cutting taxes and "trickle down economics" resulted in increasing the size of government and the federal deficit) they should look to former President Bill Clinton’s administration. Shrewd policies and cooperation resulted in the only balanced budge in the past 50 years, plus less dependence on government and a period of prosperity.

    All of these gains were lost in the following administration. Programs that sustain and foster the middle class and working poor result in a net gain of 60 cents for every dollar spent. Social programs serve as an economic stimulus increasing spending power while increasing prosperity for the already prosperous does not. Already having what they need, they do not spend as much; there are too few of them and can shop anywhere in the world. The far greater number of middle class, working poor, elderly and even unemployed spending what they can does more to stimulate the economy. Businesses and companies who supply their needs and services prosper. Many would prefer American products if available and affordable, lessening our dependence on imports.

    Comparing government debt to family debt is a fallacy. All families carry some debt when expended needs arise. The budge and our Congress should stop squabbling and do likewise.

    Our president came in with good ideas, which were opposed or underfunded. Hostile groups in Congress could not bear to see an African American Democratic president succeed, refusing even programs they had formerly supported. Sadly he will leave office with many of his goals unmet. In spite of this, things are improving and will continue to do so unless someone throws a monkey wrench into the works. Let's hope that's not the next president or Congress.

    Frances Bredeau

    Boothbay Harbor